USA: Jos. A Bank Clothiers, Inc. Posts 129% Increase in First Quarter Earnings
Jos. A. Bank Clothiers, Inc. (Nasdaq:JOSB) announced today that earnings per share for the first quarter ended April 29, 2000 (fiscal 2000) increased to $.16 per share, representing a 129% increase compared to the earnings of $.07 per share in the first quarter last year. All per share amounts refer to diluted earnings per share. Robert N. Wildrick, CEO stated: "We have generated two highly profitable quarters in a row. Our first quarter results put us on a great pace to have a terrific year. I am most pleased with the performance of our corporate casual line which was a key factor in our successful first quarter. We have the right clothes to meet the trend of the casual workplace." The Company opened two stores in the first quarter of 2000 -- one in Leesburg, VA and the other in Dawsonville, GA. As part of its plan to open 75 to 100 plus new stores through fiscal 2003, the Company expects to open 4 to 6 additional new stores in the remainder of 2000 - mostly in the second half. For the quarter ended April 29, 2000, total sales increased 6.4% to $46,408,000 compared to $43,607,000 in the same period in 1999. Comparable store sales increased 5.5% for the first quarter of 2000, while Internet sales increased 600% and catalog sales decreased 14% on a planned 10% decrease in circulation. A conference call to discuss the press release will be held on Tuesday, May 23, 2000 at 9:00 a.m. To participate in the call on May 23, 2000, call 1-800-450-0785. Jos. A. Bank Clothiers, Inc., established in 1905, is a multi-channel retailer of men's classically styled tailored and casual clothing, footwear and accessories. The Company sells its full product line through 110 stores nationwide, a nationwide catalog with a total circulation of 8 million and an e-commerce web site (
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